Spain: Frozen Lobster Market 2024

Frozen Lobster Market Size in Spain

The Spanish frozen lobster market soared to $X in 2022, growing by 46% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded prominent growth. Frozen lobster consumption peaked in 2022 and is expected to retain growth in the immediate term.

Frozen Lobster Exports

Exports from Spain

Frozen lobster exports from Spain totaled X tons in 2022, picking up by 8.5% on 2021. Over the period under review, exports recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 87% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, frozen lobster exports totaled $X in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 127%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Italy (X tons) was the main destination for frozen lobster exports from Spain, accounting for a 58% share of total exports. Moreover, frozen lobster exports to Italy exceeded the volume sent to the second major destination, Portugal (X tons), fourfold. France (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+20.8% per year) and France (+1.4% per year).

In value terms, Italy ($X) remains the key foreign market for frozen lobster exports from Spain, comprising 61% of total exports. The second position in the ranking was taken by Portugal ($X), with a 9.2% share of total exports. It was followed by Germany, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled +38.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+21.2% per year) and Germany (+206.2% per year).

Export Prices by Country

The average frozen lobster export price stood at $X per ton in 2022, falling by -2% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster export price increased by +33.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Lobster Imports

Imports into Spain

Frozen lobster imports into Spain surged to X tons in 2022, with an increase of 29% against the year before. Overall, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen lobster imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2014 when imports increased by 58%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of frozen lobster to Spain, with a 77% share of total imports. Moreover, frozen lobster imports from Canada exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold. The UK (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from Canada amounted to +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+49.4% per year) and the UK (+9.5% per year).

In value terms, Canada ($X) constituted the largest supplier of frozen lobster to Spain, comprising 77% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports. It was followed by the UK, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from Canada amounted to +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+58.9% per year) and the UK (+5.3% per year).

Import Prices by Country

In 2022, the average frozen lobster import price amounted to $X per ton, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 30%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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